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Kentucky Mega Millions Jackpot Annuity Payout Schedule for Jul 19, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $251,000,000 for a ticket purchased in Kentucky, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Kentucky

Drawing Date:Fri, Jul 19, 2024
Jackpot:$251,000,000
Federal Tax:37% marginal rate
State Tax: 4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,777,910$1,356,015$151,116$2,270,779
2$3,966,806$1,425,906$158,672$2,382,228
3$4,165,146$1,499,292$166,606$2,499,248
4$4,373,403$1,576,347$174,936$2,622,120
5$4,592,073$1,657,255$183,683$2,751,136
6$4,821,677$1,742,208$192,867$2,886,602
7$5,062,761$1,831,409$202,510$3,028,841
8$5,315,899$1,925,070$212,636$3,178,193
9$5,581,694$2,023,415$223,268$3,335,012
10$5,860,779$2,126,676$234,431$3,499,672
11$6,153,818$2,235,100$246,153$3,672,565
12$6,461,509$2,348,946$258,460$3,854,102
13$6,784,584$2,468,484$271,383$4,044,717
14$7,123,813$2,593,999$284,953$4,244,862
15$7,480,004$2,725,789$299,200$4,455,014
16$7,854,004$2,864,169$314,160$4,675,675
17$8,246,704$3,009,468$329,868$4,907,368
18$8,659,039$3,162,032$346,362$5,150,646
19$9,091,991$3,322,225$363,680$5,406,087
20$9,546,591$3,490,426$381,864$5,674,301
21$10,023,920$3,667,038$400,957$5,955,925
22$10,525,116$3,852,481$421,005$6,251,631
23$11,051,372$4,047,196$442,055$6,562,122
24$11,603,941$4,251,646$464,158$6,888,137
25$12,184,138$4,466,319$487,366$7,230,454
26$12,793,345$4,691,725$511,734$7,589,886
27$13,433,012$4,928,402$537,320$7,967,289
28$14,104,663$5,176,913$564,187$8,363,563
29$14,809,896$5,437,849$592,396$8,779,651
30$15,550,391$5,711,832$622,016$9,216,543
Total$251,000,001$91,615,632$10,040,002$149,344,369

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.